TJX Companies stock gains after net and same-store sales beat expectations, while profit matched

Shares of TJX Companies TJX, -1.27% gained 0.8% in premarket trading Wednesday, after the off-price apparel and home fashions retailer reported fiscal fourth-quarter profit that matched expectations but sales that beat, as customer traffic increased and amid strength in its Marmaxx branded stores. Net income for the quarter to Jan. 28 rose to $1.04 billion, or 89 cents a share, from $940 million, or 78 cents a share, in the year-ago period.

Marmaxx same-store sales rose 7% to beat the FactSet consensus for 2.8% growth, while HomeGoods same-store sales decline of 7% beat expectations of a 9% decline. For the first quarter, the company expects EPS of 68 cents to 71 cents, below the current FactSet consensus of 74 cents, and same-store sales growth of 2% to 3% versus expectations of 2.3% growth. “During the year, our apparel businesses, including accessories, across the company were strong,” said Chief Executive Ernie Herrman.

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